(Fornebu, 13 February 2008) With 30 million new subscriptions in 2007, Telenor is now ranked as the world's seventh largest mobile operator with a total of 143 million subscriptions in its mobile operations. The high underlying revenue growth continued in the fourth quarter of 2007.
Compared to the previous year, Telenor's revenues (including Kyivstar) increased by 15 per cent in 2007, to NOK 105 billion. Profit after taxes and minority interests increased by 13 per cent in 2007 compared to 2006, reaching NOK 18 billion.
In the fourth quarter of 2007, revenues increased by 10 per cent compared to the same period last year, reaching NOK 27 billion (including Kyivstar). The EBITDA margin in the fourth quarter of 2007 was 32.8 per cent, compared to 33.4 per cent in the fourth quarter of 2006.
"For the full year 2007, we continued to deliver high underlying revenue growth and upheld our market positions, in spite of challenging business conditions in several of our operations," said President and CEO of Telenor, Jon Fredrik Baksaas.
Central and Eastern Europe
In November, the last remaining injunction against Kyivstar was lifted. The financial information from Kyivstar confirmed Telenor's earlier estimates. "In the fourth quarter, Kyivstar continued its impressive performance with high revenue growth combined with solid EBITDA and cash flow margins," said Jon Fredrik Baksaas.
"In Norway, we are disappointed with the performance of our mobile operation in this quarter. The current cost base is not sustainable in today's competitive market, thus cost efficiency measures will be implemented during 2008," said Jon Fredrik Baksaas.
"In Asia, we see continued high customer growth, in particular in Pakistan, where we added an impressive 2 million subscriptions during the quarter. At the same time revenues and EBITDA improved significantly. In October, DTAC in Thailand successfully adopted Telenor's visual identity, and Telenor's logo is now visible in markets covering around 400 million people," said Jon Fredrik Baksaas.
In the fourth quarter of 2007, revenues in Broadcast increased by 15 per cent compared to the fourth quarter of 2006, reaching NOK 1 898 million. EBITDA was NOK 419 million, compared to NOK 260 million in the fourth quarter of 2006.